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SurveyMonkey Funds Fuel Apptentive
DIY online research firm SurveyMonkey has co-led a $5.3m Series A fundraising round for in-app customer communication specialist Apptentive. Origin Ventures also led the round, which is earmarked for expansion of the product suite along with sales and marketing activities.
Previous investors including Founders Co-op and Golden Venture Partners also participated, as did Apptentive's founders. Damon Cronkey, Senior Vice President of Corporate Development and Strategy for SurveyMonkey, will now join the firm's Board.
Seattle, Washington-based Apptentive says its platform powers over 5 million in-app customer interactions a month, and has a global consumer audience of more than 150 million people. Apptentive says it was founded on the principle of 'Customer Love', with every company looking to earn customer loyalty and commitment, and it offers the 'Love Score' app-assessment tool alongside other research on app store review dynamics.
According to Cronkey, whose firm will also partner with Apptentive on tie-ins for the benefit of customers of both companies: 'We believe Apptentive will further change and innovate consumer feedback as companies look for mobile-specific solutions.'
Apptentive co-founder and CEO Robi Ganguly says SurveyMonkey 'clearly shares' his company's belief in the power of customer interaction, and adds: 'I view this as not only an investment, but more importantly the start of a very productive partnership.'
SurveyMonkey was founded in 1999 and has over 450 employees globally, with headquarters in Palo Alto, CA. Web sites of the two partners are at www.apptentive.com and www.surveymonkey.com .
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